Oregon employers in the voluntary market pay, on average, the 34th highest workers compensation premium rates in the nation.
Oregons premium rate index is $1.93 per $100 of payroll. National premium rate indices range from a low of $1.27 in Virginia to a high of $4.08 in Florida. One jurisdiction has an index rating above $4; six are in the $3.00-$3.99 range; 25 are in the $2.00-$2.99 range; and 19 have indices under $2.00. Indices are based on data from 51 jurisdictions, for rates in effect as of January 1, 2000.
Classification codes from the National Council on Compensation Insurance (NCCI) were used in this study. Of the approximately 452 active classes in Oregon, 50 were selected based on relative importance as measured by share of losses in Oregon. To control for differences in industry distributions, each states rates were weighted by 1994-1996 Oregon payroll to obtain an average manual rate for that state. Listed in Table 1 are Oregons rankings in the top 10 of the 50 classifications used.
The table below contains the premium rate ranking for all
Although some states may appear to have the same index rate, the ranking is based on calculations prior to rounding to two decimal places. The index rates reflect appropriate adjustments for the characteristics of each individual states residual market. Rates vary by classification and insurer in each state. Actual cost to an employer can be adjusted by the employers experience rating, premium discount, retrospective rating, and dividends.
Employers can reduce their workers compensation
rates through accident prevention, safety training and by helping
injured workers return to work.
If you have questions about the information
contained in this document please contact by e-mail or phone:
Adam Drost, Research
Analyst, Research & Analysis Section, Information Management
This document was originally published in October 2000. [Printed form: 440-2082(10/00/IMD)]
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